China to lift support for small cultural firms
Print Edition
China is to increase support to micro and small cultural companies in financing, taxation and personnel management.
“High costs and financing remain obstacles for small companies, and our guideline encourages banks and other finance institutes to be more generous when granting them loans,” said Liu Yuzhu, assistant minister of culture.
The guideline, jointly released by the ministries of culture, finance, industry and information technology, targets cultural groups with less than 100 staff. Such companies comprise over 80 percent of all cultural enterprises in China.
The document encourages companies to convert disused factories or warehouses into their working bases and organize and participate in public cultural activities.
The culture ministry is planning a regulation for government departments to buy cultural products and services from a wider range of companies and bodies to give more commercial chances for small firms.
The ministry is exploring a professional title system that will lift salaries and benefits for those working in non-public cultural firms in line with their experience and achievements, and thus, enable these groups to attract more talent.
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